Woodward (NASDAQ:WWD) Price Target Raised to $118.00 at Truist Securities

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Woodward (NASDAQ:WWD) had its target price hoisted by stock analysts at Truist Securities from $108.00 to $118.00 in a research report issued on Tuesday, Stock Target Advisor reports. Truist Securities’ price objective would indicate a potential downside of 7.17% from the stock’s current price.

A number of other analysts have also commented on WWD. Credit Suisse Group lifted their price target on Woodward from $147.00 to $151.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist upped their price objective on Woodward from $108.00 to $118.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.00.

Shares of WWD traded up $2.58 during trading hours on Tuesday, reaching $127.12. The stock had a trading volume of 13,360 shares, compared to its average volume of 261,983. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 1.84 and a beta of 1.51. The firm has a 50-day simple moving average of $122.66 and a 200 day simple moving average of $114.40. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.38. Woodward has a 12 month low of $50.50 and a 12 month high of $127.91.

Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Sunday, May 2nd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.24. The firm had revenue of $581.32 million during the quarter, compared to analyst estimates of $573.50 million. Woodward had a return on equity of 15.51% and a net margin of 9.25%. The company’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. On average, equities analysts forecast that Woodward will post 3.72 EPS for the current year.

In related news, CEO Thomas A. Gendron sold 2,099 shares of the stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $114.68, for a total value of $240,713.32. Following the sale, the chief executive officer now owns 7,886 shares in the company, valued at $904,366.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Cohn sold 2,253 shares of Woodward stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $114.02, for a total value of $256,887.06. Following the sale, the director now owns 22,253 shares of the company’s stock, valued at approximately $2,537,287.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,604 shares of company stock valued at $25,151,523. 4.20% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of WWD. Meeder Asset Management Inc. boosted its stake in shares of Woodward by 333.8% in the 1st quarter. Meeder Asset Management Inc. now owns 282 shares of the technology company’s stock valued at $34,000 after purchasing an additional 217 shares in the last quarter. Planned Solutions Inc. bought a new stake in Woodward in the fourth quarter valued at $49,000. Perennial Advisors LLC purchased a new position in Woodward during the 4th quarter valued at $61,000. AdvisorNet Financial Inc raised its holdings in Woodward by 272.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,109 shares of the technology company’s stock worth $134,000 after purchasing an additional 811 shares in the last quarter. Finally, Private Capital Group LLC lifted its position in shares of Woodward by 17.9% in the 4th quarter. Private Capital Group LLC now owns 1,267 shares of the technology company’s stock worth $154,000 after purchasing an additional 192 shares during the period. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

Woodward Company Profile

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment offers fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles; and flight deck controls, actuators, servo controls, and motors and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.

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